Aggreko (AGK)

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FTSE 250

773.20p
   
  • Change Today:
    -4.60p
  • 52 Week High: 869.20p
  • 52 Week Low: 707.20p
  • Currency: UK Pounds
  • Volume: 374,567
  • RiskGrade: 90

Ofgem fines energy supplier E for misleading behaviour, blocks Shetland energy link

By Ikaba Koyi

Date: Thursday 23 Nov 2017

LONDON (ShareCast) - (ShareCast News) - E, the gas and electricity supplier, has been being forced to pay £260,000 into the regulator's charity fund for failing to ensure its sales agents were transparent or passed sufficient background checks.
According to the Office of Gas and Electricity Markets (Ofgem) on Thursday, sales representatives for E contracted by a third party agency Energy Watch UK were "misleading" in their approach, failing to inform potential customers they were working on behalf of E and rather as an independent price comparison service.

Adding that no customer suffered directly, financially or otherwise, from the breaches, Ofgem ordered E to pay £260,000 to a new voluntary redress fund to amend the failures.

Ofgem's senior partner in improving regulation, Martin Crouch, said: "E did not put security and transparency first when it came to face-to-face sales, and risked the trust and well-being of potential customers.

"This payment sends an important reminder to all suppliers that there's no room for misleading behaviour when it comes to selling energy.

"E has since worked well with Ofgem, and has changed its processes to make sure its agents have sufficient background checks and carry out sales in a transparent way."

In a separate announcement released on the same day, Ofgem said it had rejected a proposal submitted by National Grid and Aggreko to develop a subsea electricity distribution link from Shetland to mainland Great Britain.



SSE, the system operator for Shetland, had recommended the proposal in May, but has since been able to guarantee energy supply on the island until at least 2025 thanks to a July EU decision that tougher emissions targets which were due to apply to Lerwick Power Station from 2020 will now only apply from 2030, plus a recent UK government indication that wind farms on remote islands such as Shetland will be eligible to compete for a contract for difference in the next auction for less established technologies, planned for 2019.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Aggreko Market Data

Currency UK Pounds
Share Price 773.20p
Change Today -4.60p
% Change -0.59 %
52 Week High 869.20p
52 Week Low 707.20p
Volume 374,567
RiskGrade 90

Aggreko Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
20.84% above the market average20.84% above the market average20.84% above the market average20.84% above the market average20.84% above the market average
8.77% above the sector average8.77% above the sector average8.77% above the sector average8.77% above the sector average8.77% above the sector average
Price Trend
8.03% above the market average8.03% above the market average8.03% above the market average8.03% above the market average8.03% above the market average
19.67% below the sector average19.67% below the sector average19.67% below the sector average19.67% below the sector average19.67% below the sector average
Income
38.17% above the market average38.17% above the market average38.17% above the market average38.17% above the market average38.17% above the market average
29.27% above the sector average29.27% above the sector average29.27% above the sector average29.27% above the sector average29.27% above the sector average
Growth
66.12% below the market average66.12% below the market average66.12% below the market average66.12% below the market average66.12% below the market average
78.57% below the sector average78.57% below the sector average78.57% below the sector average78.57% below the sector average78.57% below the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 2
Sell 1
Strong Sell 5
Total 13
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Aggreko Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 18-Apr-19
Paid 01-Oct-19 24-May-19
Amount 9.38p 17.74p

Trades for 21-Feb-2020

Time Volume / Share Price
16:50 6 @ 773.40p
16:50 314 @ 773.40p
16:35 230,831 @ 773.20p
16:29 12 @ 770.00p
16:29 9 @ 770.20p

Aggreko Key Personnel

CEO Chris Weston
CFO Heath Drewett

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